Daewoo E&C Wins 1.4 Trillion Won Sangdo 15 District Redevelopment Project
Largest Redevelopment Project in Dongjak-gu
Design Collaboration with SMDP... "Sangdo Summit" Proposed
Daewoo E&C announced on July 20 that it has been selected as the contractor for the residential redevelopment project in Sangdo 15 District. The project will build apartment complexes and other facilities on the site at 279 Sangdo-dong, Dongjak-gu, Seoul, consisting of a total of 3,207 apartment units across 30 buildings, ranging from eight floors underground to 35 floors above ground. The construction cost amounts to 1.4367 trillion won (excluding VAT).
The company noted that this will be the largest integrated redevelopment complex in Dongjak-gu, and that it collaborated with international architectural firm SMDP. They have proposed the name "Sangdo Summit" for the complex. Daewoo E&C explained that the design is inspired by the nearby mountains and will incorporate windows that provide views of both the surrounding topography and the interior of the development. The project will also reduce elevation differences on the site to create a central plaza of over 4,600 pyeong, as well as a covered park and a circular walking trail, connecting the entire complex as one.
Perspective view of Sangdo Summit, built through redevelopment of Sangdo 15 District in Dongjak-gu, Seoul. Provided by Daewoo E&C
View original imagePlanned community facilities include three “sky community” spaces with sky bridges, a 50-meter swimming pool with three lanes, an indoor park golf course, and a two-story 50-meter track—large-scale sports amenities. Daewoo E&C also stated that, to expedite project progress, it has provided a guarantee of completion and intends to take responsibility for project financing.
Hot Picks Today
Retail Investors Regain Hope: "Leverage Unwinding Nears End, KOSPI 12,500 Target Intact," Says J.P. Morgan
- "$300 Gone in One Date"...U.S. Gen Z Ditches Restaurants for Parks
- "There Are Rules About Fines!" Even Presidential Rebuke as Turkey's Anti-Smoking Crackdown Imposes 21.8 Billion Won in Penalties
- After Much Deliberation, We End Up Saying "Just an Iced Americano"... What Happens When There Are Too Many Choices
- Zara 'Death Pants' Too Stylish to Give Up: "I Almost Died Just 30 Minutes After Putting Them On"
With this contract, Daewoo E&C has secured a total of eight new projects across the country so far this year, amounting to 4.353 trillion won. The company plans to focus its capabilities in the second half of the year on major redevelopment projects including the Mokdong New Town and Sinwol Siyoung reconstructions, as well as the Hwarang Apartments project in Yeouido.
© The Asia Business Daily. All rights reserved. Unauthorized AI training and use prohibited.
